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Code of Federal Regulations (Last Updated: May 6, 2024) |
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Title 12 - Banks and Banking |
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Chapter V - Office of Thrift Supervision, Department of the Treasury |
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Part 550 - Fiduciary Powers of Savings Associations |
| § 550.1 - Definitions. |
| § 550.2 - Applications. |
| § 550.3 - Consolidation or merger of two or more Federal savings associations. |
| § 550.4 - Deposit of securities with State authorities. |
| § 550.5 - Administration of trust powers. |
| § 550.6 - Books and accounts. |
| § 550.7 - Audit of trust department. |
| § 550.8 - Funds awaiting investment or distribution. |
| § 550.9 - Investment of funds held as fiduciary. |
| § 550.10 - What regulations govern the fiduciary operations of savings associations? |
| § 550.11 - Custody of investments. |
| § 550.12 - Compensation of Federal savings association. |
| § 550.13 - Collective investment. |
| § 550.14 - Surrender of trust powers. |
| § 550.15 - Effect on trust accounts of appointment of conservator or receiver or voluntary dissolution of association. |
| § 550.16 - Revocation of trust powers. |
| § 550.20 - What are fiduciary powers? |
| § 550.30 - What fiduciary capacities does this part cover? |
| § 550.40 - When do I have investment discretion? |
| § 550.50 - What is a fiduciary account? |
| § 550.60 - What other definitions apply to this part? |
| Subpart A - Obtaining Fiduciary Powers |
| § 550.70 - Must I obtain OTS approval or file a notice before I exercise fiduciary powers? |
| § 550.80 - How do I obtain OTS approval? |
| § 550.90 - What information must I include in my application? |
| § 550.100 - What factors may the OTS consider in its review of my application? |
| § 550.110 - Who will act on my application? |
| § 550.120 - What action will the OTS take on my application? |
| § 550.125 - How do I file the notice under § 550.70(c)? |
| Subpart B - Exercising Fiduciary Powers |
| § 550.130 - How may I conduct multi-state operations? |
| § 550.135 - How do I determine which State's laws apply to my operations? |
| § 550.136 - To what extent do State laws apply to my fiduciary operations? |
| § 550.140 - Must I adopt and follow written policies and procedures in exercising fiduciary powers? |
| Fiduciary Personnel and Facilities |
| § 550.150 - Who is responsible for the exercise of fiduciary powers? |
| § 550.160 - What personnel and facilities may I use to perform fiduciary services? |
| § 550.170 - May my other departments or affiliates use fiduciary personnel and facilities to perform other services? |
| § 550.180 - May I perform fiduciary services for, or purchase fiduciary services from, another association or entity? |
| § 550.190 - Must fiduciary officers and employees be bonded? |
| Audit Requirements |
| § 550.440 - When do I have to audit my fiduciary activities? |
| § 550.450 - What standards govern the conduct of the audit? |
| § 550.460 - Who may conduct an audit? |
| § 550.470 - Who directs the conduct of the audit? |
| § 550.480 - How do I report the results of the audit? |
| Investing Funds of a Fiduciary Account |
| § 550.260 - How may I invest funds of a fiduciary account? |
| Recordkeeping Requirements |
| § 550.410 - What records must I keep? |
| § 550.420 - How long must I keep these records? |
| § 550.430 - Must I keep fiduciary records separate and distinct from other records? |
| Custody and Control of Assets |
| § 550.230 - Who must maintain custody or control of assets in a fiduciary account? |
| § 550.240 - May I hold investments of a fiduciary account off-premises? |
| § 550.250 - Must I keep fiduciary assets separate from other assets? |
| Review of a Fiduciary Account |
| § 550.200 - Must I review a prospective account before I accept it? |
| § 550.210 - Must I conduct another review of an account after I accept it? |
| § 550.220 - Are any other account reviews required? |
| Restrictions on Self Dealing |
| § 550.330 - Are there investments in which I may not invest funds of a fiduciary account? |
| § 550.340 - May I exercise rights to purchase additional stock or fractional shares of my stock or obligations or the stock or obligations of my affiliates? |
| § 550.350 - May I lend, sell, or transfer assets of a fiduciary account if I have an interest in the transaction? |
| § 550.360 - May I make a loan to a fiduciary account that is secured by an interest in the assets of the account? |
| § 550.370 - May I sell assets or lend money between fiduciary accounts? |
| Compensation, Gifts, and Bequests |
| § 550.380 - May I earn compensation for acting in a fiduciary capacity? |
| § 550.390 - May my officer or employee retain compensation for acting as a co-fiduciary? |
| § 550.400 - May my fiduciary officer or employee accept a gift or bequest? |
| Funds Awaiting Investment or Distribution |
| § 550.290 - What must I do with fiduciary funds awaiting investment or distribution? |
| § 550.300 - Where may I deposit fiduciary funds awaiting investment or distribution? |
| § 550.310 - What if the FDIC does not insure the deposits? |
| § 550.320 - What is acceptable collateral for uninsured deposits? |
| Subpart C - Depositing Securities With State Authorities |
| § 550.490 - When must I deposit securities with State authorities? |
| § 550.500 - How much must I deposit if I administer fiduciary assets in more than one State? |
| § 550.510 - What must I do if State authorities refuse my deposit? |
| Subpart D - Terminating Fiduciary Activities |
| Revocation of Fiduciary Powers |
| § 550.560 - When may the OTS revoke my fiduciary powers? |
| § 550.570 - What procedures govern the revocation? |
| Surrender of Fiduciary Powers |
| § 550.530 - How do I surrender fiduciary powers? |
| § 550.540 - When will the OTS terminate my fiduciary powers? |
| § 550.550 - May I recover my deposit from State authorities? |
| Receivership or Liquidation |
| § 550.520 - What happens if I am placed in receivership or voluntary liquidation? |
| Subpart E - Activities Exempt From This Part |
| § 550.580 - When may I conduct fiduciary activities without obtaining OTS approval? |
| § 550.590 - What standards must I observe when acting in exempt fiduciary capacities? |
| § 550.600 - How may funds be invested when I act in an exempt fiduciary capacity? |
| § 550.610 - What disclosures must I make when acting in exempt fiduciary capacities? |
| § 550.620 - May I receive compensation for acting in exempt fiduciary capacities? |